Today's Market Morning from Julian Phillips looks at the fear element in the Italian debt situation - too big to fail, too big to bail - and the likely effect on gold.
Author: Julian PhillipsPosted: Thursday , 10 Nov 2011
BENONI -
As fears emanating from Europe spread, the gold price dropped in New York to $1,769 and fell further in Asia to $1,758 ahead of London's opening this morning with the euro also falling to €1: $1.3523 down nearly 2% leaving the gold price in the euro at €1,300, down €18.
The Fix was set at $1,766.00, down $14 with the euro price Fixed at €1,299.007 down barely a euro, while the euro was at €1: $1.3595 down a cent.........
http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=139323&sn=Detail&pid=102055
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